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Ares Commercial Finance Funds $47MM Credit Facility for Polymeric Resources

January 08, 2016, 07:06 AM
Filed Under: Manufacturing

Ares Commercial Finance has funded a $47.0 million senior secured credit facility comprised of a revolving line of credit, two term loans and a capital expenditure facility to Polymeric Resources Corporation and its wholly owned subsidiaries, Nylene Canada, Inc. and Custom Resins, Inc.  The funds will be used to refinance the company’s existing credit facilities. Polymeric is a North American manufacturer and compounder of Nylon 6, Nylon 6/66, Nylon 6/9, specialty nylons, polycarbonate, and other polymer products. Polymeric is an established supplier to the automotive, wire and cable, injection molding, and carpet fiber industries.  The company is headquartered in Wayne, New Jersey.
Ares (NYSE: ARES) is a publicly traded, leading global alternative asset manager with approximately $92 billion of assets under management (“AUM”)As of September 30, 2015, AUM amounts include capital available to vehicles managed or co-managed by Ares, including funds managed by Ivy Hill Asset Management, L.P., a wholly owned portfolio company of Ares Capital Corporation and a registered investment adviser. and more than 15 offices in the United States, Europe and Asia as of September 30, 2015. Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering attractive risk-adjusted investment returns throughout market cycles. Ares believes each of its four distinct but complementary investment groups in Tradable Credit, Direct Lending, Private Equity and Real Estate is a market leader based on assets under management and investment performance. Ares was built upon the fundamental principle that each group benefits from being part of the greater whole.
Note: Ares Commercial Finance LP (“Ares Commercial Finance”) is a limited partnership formed by Ares Management, L.P., a publicly traded, leading global alternative investment manager and parent to several registered investment advisers. This information is not an offer to sell, or the solicitation of an offer to purchase, any security, the offer and/or sale of which can only be made by definitive offering documentation.

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